6. Overview
• Find a mentor
• Type of business
• Equipment inventory and new equipment research
• Researching legal requirements
• Financial planning
• Business strategies
• Create a business plan
7. Finding A Mentor
• Business sense
• Experienced with starting a business
• Tim Moore President 5 Star Entertainment Capital
8. Finding A Mentor
• Business sense
• Experienced with starting a business
• Paul Nurkka Independent Contractor
9. Type Of Business
• Skill assessment
• Yard care
• Landscaping
• Cleaning and trash removal
• Light construction and repair
• Survey to determine tasks that are in demand locally
• Many suggested other jobs they needed help with and other
people they knew also needed help
• Results: 1/3 of the people I surveyed said yes, they needed some
assistance with these types of tasks
Jasen Turnquist, home and garden guru!
10. Equipment Inventory & Equipment
Research• Yard tools
• Hand tools
• Ladders
• Electric trimmers
• Mowers
• A vehicle
11. Legal Requirements
• http://Access.wa.gov/topics/business
• http://bls.dor.wa.gov
• http://www.ora.wa.gov/business.asp
• Licenses
• State business license
• City/County business licenses http://www.ci.edmonds.wa.us/
• Certifications
• Permits
12. Financial Planning• Banking
• Taxes
• State B & O Taxes
• Federal Income Taxes
• Sales tax
• Receipts and documentation
• Permits. licenses and fees
• Receipts for all expenses
• Equipment costs (initial and replacement)
• Record of all income
• My Personal Finance course helped me understand the financial elements
such as banking, taxes and recordkeeping
• My Economics course helped as well with things my mentor had
recommended like the importance of a business plan and a better
understanding of taxes
13. Business Strategies
• The name of the business
• Determining who my client base was
• Advertising
• Signs
• Ads in local publications
• Posters in community centers
• Word of mouth
14. Create a Business Plan
• Allows you the best planning to avoid mistakes
• Prepares you for seeking financial aid and or credit
• Helps keep your emotions in check
• Gives you a game plan
• Sources of Business plan info:
• SBA.GOV
• www.bplans.com
• www.score.org
15.
16. Conclusion
• I have the ability
• I have the desire
• I have the opportunity
• I don’t have transportation
• I don’t have startup capital
17. Final Thoughts
• The government makes it harder than it should be to
start a business
• I started this project not understanding all that was
involved
• I learned a lot and now I know I could do it
• I am more determined than ever to succeed at my
own business
In conclusion.
(click)
There were bad things in this process. For one, I now know why so many people complain about government regulations on small business. While state and federal government do provide websites to help, the fact the process is so complex is why you need them.
Also, I really didn’t understand everything involved in this when I started my investigation. I had a huge wake up call.
But there were good things:
(click)
I learned a lot bout starting a business, and now I know that with a little time and the proper planning I can start one that would succeed.
There are roadblocks, but I am more determined to overcome them and do this. Anyone who knows me will tell you that I will do not give up once I have made a decision.
My final thought is this quote by management expert Peter F Drucker
In the end, the courage to try will be my most important asset.
